New Jersey Online Gambling Pays Off Bigtime for Lobbyists and Solicitors
It’s good to become a casino industry lobbyist or lawyer representing New Jersey on line gaming, according to the latest reports (Image: thepublici.com)
Everybody knows that when it concerns gambling, the house always wins. In the case of online gambling in New Jersey, it seems that the lobbyists and attorneys do pretty well on their own, too.
Help Services Make Bank
According to disclosures posted by the nj-new Jersey Division of Gaming Enforcement, the online gambling industry has resulted in $50.3 million in payments to lawyers, lobbyists, and other professionals since mid-2009. The figures came simply days before the first revenue numbers are planned to be released for New Jersey casino web sites, and are section of an unusual requirement in New Jersey that demands disclosures for several professional re payments.
‘Many states have statutes requiring public disclosure of revenues by lobbyists, including New Jersey, but this is actually the time that is first have ever heard about a gaming regulatory agency needing disclosure of payments to lawyers,’ said Nicholas Casiello Jr., a lawyer aided by the Fox Rothschild firm’s gaming team in Atlantic City.
This first report covered everything from July 2009 through December 2013, with future reports being made public for a quarterly foundation.
The biggest ‘winner’ in terms of legal solutions was Brownstein Hyatt Farber Schreck, L.L.P., which made $1.89 million in legal fees. That’s in addition to another $2.83 million from activities described as a mix between lobbying, consulting and legal services, bringing their haul that is total to4.72 million.
However, the disclosures also showed exactly how uncertain site operators were about what exactly they had to report. A number of the reports featured payments related to lobbying outside of Internet gaming issues, while others included expenses that came from on line gambling efforts in other states.
The level of detail within the reporting diverse significantly since well. The Borgata merely reported two categories of re payments: one to a lawyer, plus one with a group that is lobbying. Having said that, Amaya Gaming Group and Ultimate Gaming included exactly what might perhaps be relevant, down to a payment of $19,380 to a mathematician to help develop online games.
Lobbying firms did rather well, gathering an overall total of $3 million from organizations in the industry since 2009. The chunk that is biggest of that money went to Public Strategies Impact, which took in $37,500 every quarter from Caesars Entertainment. Some individuals were reported to have received large repayments, too: TV poker personality Mike Sexton took in between $100,000 and $300,000 per year from Bwin.Party in an effort to be their brand name ambassador.
Only A Few Were Revealing
Possibly the more aspect that is surprising of disclosures was which and how many companies involved in brand New Jersey’s online gambling industry actually complied with the requirement to disclose payments. According to reports, only about 40 percent of the companies which should have been necessary to file ‘Internet Gaming Disclosure Statements’ actually bothered to do therefore. However, that number is a bit misleading, as every one of the major players in the industry submitted their statements, while additional businesses included in the industry were spottier in their participation.
‘Each of the state’s 11 casinos has filed and all seven of their state’s licensed Internet platform providers have filed the division’s disclosure type,’ said Lisa Spengler, spokesperson for the Division of Gaming Enforcement. ‘The division intends to follow up with licensed vendors that have actually not yet submitted an answer.’
Unlucky Seven-Year Descent as Atlantic City Falls Below $3 Billion
It is been a seven-year run of bad luck for Atlantic City’s casinos, revenue-wise. (Image: Moonbeam 13)
It’s amazing just what a difference seven years makes. Atlantic City which had been going strong and winning $5.2 billion from gamblers in 2006 has seen seven straight years of declining revenues, culminating within the city’s 12 (now 11) casinos bringing in less than $3 billion in gambling revenues for the first time in 22 years in 2013.
The figure that is exact was released recently by the New Jersey Division of Gaming Enforcement came to $2.86 billion, or near to a five per cent drop from the $3 billion the casinos brought in during 2012.
There have been many contributing factors over the years that have kept the losing streak going for Atlantic City’s casinos. But even though the 2008 recession therefore the damaging ramifications of Hurricane Sandy in 2012 definitely harmed the gambling resort, the number one basis for the decrease has been increased competition from nearby casinos.
In reality, the downturn coincides exactly with the year when the region began getting more competitive for casino operators overall. A destination closer to home in 2006, the first casino was built in Pennsylvania, giving gamblers especially casual casino visitors. Nowadays there are 12 Pennsylvania casinos, so when of 2012, they were bringing in more money in total than their Atlantic City counterparts.
The decline had real-world implications at the start of 2014, as the Atlantic Club Casino Hotel shut down mid-January, leaving the populous town with just 11 operating casinos.
Can Web Gambling Save the afternoon?
Nevertheless, industry insiders say in 2014, as the introduction of online gambling should provide a much-needed boost in revenues during the coming year that they expect this trend to reverse itself.
‘Obviously it’s disappointing to see another where it’s a decline,’ said Tony Rodio, head of the Casino Association of New Jersey and president of the Tropicana Casino and Resort, which snatched up a piece of the Atlantic Club and will be taking most of the casino’s gaming equipment year. ‘But hopefully by the addition of Internet gambling, I think you are going to see an increase in 2014.’
The 2013 yearly numbers had been the first-ever to include on line gambling revenue in brand New Jersey, as hawaii’s Web casino market exposed in late November. Overall, casinos took in $8.4 million in winnings during that time. The lion’s share of this revenue was split between the Borgata and Caesars Interactive, which combined to bring in $6.1 million of that total.
The winner that is largest of all was the Borgata, which won $3.7 million on its PartyPoker-branded online gambling sites.
‘ Our community has attracted the largest pool of players in this new Jersey online market, allowing us to offer our customers a wide selection of games and table stakes at all times,’ said Keith Smith, president of Boyd Gaming (a firm that owns half of the Borgata). ‘This gives our network a significant advantage that is competitive positions us for further success.’
According to Smith, there was clearly also evidence that the online casinos were bringing in additional revenue, as opposed to simply money that is shifting land-based operations towards the Internet.
‘When matching our online and land-based databases, we found that 60 percent of on the web casino customers was not to Borgata in over a year, and over 75 % had made fewer than two trips to Borgata in the year that is past’ said Smith. ‘And on a combined basis, online and land-based poker revenue at Borgata was up more than 40 % from our land-based play in December 2012. Clearly, online gaming is complementary to our business that is land-based competitive.’
Nevertheless, it’s not yet specific whether online gambling will be the city’s financial savior. Overall, casinos took in $222 million in December 2013 including their online sites which was still down slightly from the $223.5 million they took in during December 2012.
Poker web Site 888 Wants Hakeem Nicks to include an 8 to their Jersey
NY Giants receiver that is wide Nicks will have an extra ‘8’ on his team jersey, if poker site 888.com gets their way (Image: BSO.com)
In the arena that is overcrowded of to get the title nowadays, sometimes you just need certainly to think outside the box. This is the thinking, evidently, associated with the marketing geniuses at 888.com, an online poker website now licensed into the newly launched nj-new Jersey online casino marketplace, when they offered ny Giants wide receiver Hakeem Nicks $88,800 to legally change his name to 888.com.
Anything for Attention
While pretty demonstrably merely a publicity stunt getting shmucks like us to write the story up, it is unlikely that a search for under $89K will probably obtain a pro football player all that excited; heck, these guys spend that much on bottle solution on any given Las Vegas week-end. But it’s a catchy press release and an concept that is amusing. More than that, it’s at least in part in reaction to week that is last first-time-ever advertising alliance between an online poker site partypoker.com and two major sports that are pro: the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Of course, ya gotta have a gimmick, as Gypsy Rose Lee once said ( at least into the musical about her), so this is 888’s.
‘We’re excited that 888.com is installed and operating in nj-new jersey,’ said 888 Holdings CEO Brian Mattingley. ‘As we consider 888 to be the premier gaming website within the Garden State, we thought it absolutely was appropriate to align ourselves along with other area notables. We couldn’t think of a more fitting local athlete than Big Blue’s very own number 88, Hakeem Nicks. We are additionally conscious that Hakeem’s contract is up, so we hope which he sees this as a gesture to remain so that as an opportunity to benefit a local charity he supports.’
Never hurts to put in some community feel-good elixir either, does it.
Nicks Not Biting
Additionally not too surprisingly and vaguely similar to a current cryptocurrency launch that used Kanye myfreepokies.com West’s name even though he had no actual involvement with the product Nicks has not responded, allow alone stated yay or nay. It is been a year that is tough Nicks; he caught 56 passes for 896 yards, giving him on average 16 yards per catch, and also had 14 catches for 20-plus yards together with longest going for 57 yards. However, he went the season that is whole reaching the end zone.
While no one actually believes he will simply take 888 up on this offer that is creative minimum not as of this price if he did opt to proceed, there’s a complete bunch of documents to be careful of, as anyone who’s ever gotten married or divorced can attest. Besides the most common trips towards the DMV to alter his license, another anyone to the Social Security office, passport office and any and all finance institutions, Nicks would have to obtain a papal blessing through the NFL.
Then trade in his current team jersey for a new one saying ‘888’ which would be a publicity victory worth a whole bunch more than $88,800 for the poker site if that were to happen and there is the precedent of Ocho Cinco, who changed his name from the more mundane Chad Johnson back in 2008 Nicks would.